52% jump in house payments cuts San Bernardino County homebuying 32% – San Bernardino Sun


San Bernardino County homebuying fell 32% in a year after a52% jump in house payments.

Essentially, local home prices are 1.5% off their peak after the fourth-slowest-selling July on record.

Here’s what my trusty spreadsheet found in the DQNews report on San Bernardino County’s closed transactions in July …

Sales swings

Total: 2,237 San Bernardino County single-family, condominium, existing and newly constructed homes sold. This was No. 4 worst July of the 35 since 1988.

One-month change: 22% decrease from June. Since 1988, sales have fallen in July 62% of the time with an average 3% decrease from June.

12-month change: The 32% decrease was the No. 21 biggest decline since 1988 (or only 5% worse months.)

Year-to-date: Off 13% vs. 2021.

Pre-pandemic: July sales were 17% below the 2,694 average July, 2010-2019.

Price patterns

The median: $515,000 for all residences, down 1% in the month, up 13% over 12 months. Record S.B. high? $523,000 set in May. So, prices are 1.5% off their peak.

One-month trend: Since 1988, a typical July had prices flat with June.

One-year trend: Smallest increase in 17 months. Latest gain tops 72% of all 12-month periods since 1988.

Downpayment: $103,000 at 20%, up $12,000 in a year.

Pandemic era? 14 price records have been broken since February 2020.

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